Neurocrine Biosciences, Inc. (NBIX) Key Metrics
NBIX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $13.79B
- Enterprise value
- $14.42B
- P/E (TTM)
- 19.9 10-yr median 64.9
- Forward P/E
- 14.1
- PEG ratio
- 0.28
- Price / sales
- 4.1 10-yr median 8.4
- Price / book
- 3.9 10-yr median 7.6
- EV / EBITDA
- 15.7 10-yr median 50.2
- Dividend yield
- —
- Beta
- 0.40
NBIX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNBIX valuation Price multiples at each fiscal year-end price.
NBIX returns How much profit the business earns on the capital it uses.
NBIX per-share figures Results divided by the shares outstanding at year-end.
NBIX financial health Debt, liquidity and how easily interest is covered.
NBIX efficiency & capital use Working capital cycle and where the cash goes.
NBIX valuation history
NBIX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NBIX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NBIX cash returned to shareholders
NBIX price vs earnings per share
NBIX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $14.54B | $14.16B | $13.31B | $11.81B | $8.34B | $9.37B | $10.29B | $6.81B | $6.83B | $3.36B |
| Enterprise value | $13.47B | $13.53B | $12.70B | $11.09B | $8.07B | $8.99B | $10.44B | $6.61B | $6.73B | $3.06B |
| P/E ratio | 30.4 | 41.5 | 53.3 | 76.5 | 93.1 | 23.0 | 278.1 | 322.7 | — | — |
| Price / sales | 5.1 | 6.0 | 7.1 | 7.9 | 7.4 | 9.0 | 13.1 | 15.1 | 42.3 | 223.7 |
| Price / book | 4.5 | 5.5 | 6.0 | 6.9 | 6.1 | 8.3 | 16.2 | 14.2 | 18.4 | 10.7 |
| Price / free cash flow | 19.4 | 25.4 | 36.8 | 36.6 | 35.8 | 43.1 | 77.8 | 88.9 | — | — |
| Price / operating cash flow | 18.6 | 23.8 | 34.1 | 34.8 | 32.5 | 41.0 | 70.0 | 67.2 | — | — |
| EV / sales | 4.7 | 5.7 | 6.7 | 7.4 | 7.1 | 8.6 | 13.2 | 14.7 | 41.6 | 204.2 |
| EV / EBITDA | 20.2 | 21.2 | 30.5 | 41.9 | 58.4 | 60.7 | 121.5 | 161.6 | — | — |
| EV / free cash flow | 18.0 | 24.3 | 35.1 | 34.3 | 34.6 | 41.3 | 78.9 | 86.3 | — | — |
| Earnings yield | 3.3% | 2.4% | 1.9% | 1.3% | 1.1% | 4.3% | 0.4% | 0.3% | −2.1% | −4.2% |
| Free cash flow yield | 5.2% | 3.9% | 2.7% | 2.7% | 2.8% | 2.3% | 1.3% | 1.1% | −1.5% | −3.3% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 1.2% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $141.83 | $136.50 | $131.76 | $119.44 | $85.17 | $95.85 | $107.49 | $71.41 | $77.59 | $38.70 |
| Per share | ||||||||||
| Revenue per share | $27.91 | $22.71 | $18.68 | $15.05 | $11.58 | $10.69 | $8.23 | $4.73 | $1.83 | $0.17 |
| Earnings per share | $4.67 | $3.29 | $2.47 | $1.56 | $0.92 | $4.16 | $0.39 | $0.22 | −$1.62 | −$1.63 |
| Operating cash flow per share | $7.64 | $5.74 | $3.86 | $3.43 | $2.62 | $2.34 | $1.54 | $1.06 | −$1.07 | −$1.22 |
| Free cash flow per share | $7.30 | $5.37 | $3.58 | $3.26 | $2.38 | $2.22 | $1.38 | $0.80 | −$1.15 | −$1.27 |
| Cash per share | $14.44 | $10.38 | $10.21 | $10.00 | $7.27 | $8.19 | $7.00 | $6.82 | $5.86 | $3.54 |
| Book value per share | $31.74 | $24.97 | $22.10 | $17.27 | $14.03 | $11.52 | $6.65 | $5.04 | $4.22 | $3.63 |
| Tangible book value per share | $31.74 | $24.57 | $21.69 | $16.84 | $14.03 | $11.52 | $6.52 | $4.92 | $4.22 | $3.63 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.33 | $0.37 | $0.28 | $0.17 | $0.24 | $0.11 | $0.15 | $0.26 | $0.08 | $0.05 |
| Debt per share | $4.05 | $4.39 | $4.24 | $2.66 | $4.50 | $4.22 | $8.54 | $4.73 | $4.63 | $0.17 |
| Shares outstanding | 102.5M | 103.7M | 101.0M | 98.9M | 97.9M | 97.8M | 95.7M | 95.4M | 88.1M | 86.7M |
| Change in shares outstanding | −1.2% | +2.7% | +2.1% | +1.0% | +0.1% | +2.2% | +0.3% | +8.3% | +1.6% | +2.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.4% | 14.2% | 12.7% | 10.0% | 7.2% | 46.2% | 6.6% | 5.0% | −41.5% | −38.2% |
| Return on invested capital (ROIC) | 20.2% | 22.3% | 14.5% | 17.3% | 9.8% | 21.4% | 10.8% | 13.1% | −72.4% | −290.5% |
| Return on assets (ROA) | 11.5% | 9.8% | 8.9% | 7.0% | 4.7% | 26.8% | 3.2% | 2.3% | −24.1% | −33.6% |
| Return on tangible assets | 10.3% | 9.3% | 7.8% | 6.6% | 4.3% | 23.5% | 2.9% | 2.1% | −17.4% | −38.6% |
| Free cash flow margin | 26.2% | 23.7% | 19.2% | 21.7% | 20.6% | 20.8% | 16.8% | 17.0% | −62.7% | −735.3% |
| Income quality (OCF / net income) | 1.64 | 1.74 | 1.56 | 2.20 | 2.86 | 0.56 | 3.97 | 4.80 | — | — |
| Financial health | ||||||||||
| Total debt | $415.3M | $455.1M | $428.4M | $262.9M | $440.4M | $412.3M | $817.6M | $450.8M | $408.0M | $14.9M |
| Cash & short-term investments | $1.48B | $1.08B | $1.03B | $989.3M | $711.3M | $801.0M | $670.5M | $650.9M | $515.9M | $307.4M |
| Net debt | −$1.07B | −$621.0M | −$603.2M | −$726.4M | −$270.9M | −$388.7M | $147.1M | −$200.1M | −$107.9M | −$292.5M |
| Debt / equity | 0.13 | 0.18 | 0.19 | 0.15 | 0.32 | 0.37 | 1.28 | 0.94 | 1.10 | 0.05 |
| Debt / assets | 0.09 | 0.12 | 0.13 | 0.11 | 0.21 | 0.24 | 0.63 | 0.45 | 0.50 | 0.04 |
| Net debt / EBITDA | −1.60 | −0.97 | −1.45 | −2.75 | −1.96 | −2.62 | 1.71 | −4.89 | — | — |
| Current ratio | 3.39 | 3.40 | 2.45 | 2.70 | 3.96 | 5.45 | 1.47 | 8.36 | 10.20 | 10.21 |
| Quick ratio | 3.30 | 3.28 | 2.40 | 2.64 | 3.83 | 5.30 | 1.44 | 8.24 | 10.77 | 10.21 |
| Interest coverage | — | 4.5 | 54.5 | 35.1 | 4.0 | 5.0 | 2.3 | 1.2 | -6.7 | — |
| Working capital | $1.78B | $1.22B | $952.2M | $915.8M | $727.0M | $829.7M | $265.7M | $649.5M | $500.5M | $280.0M |
| Invested capital | $2.19B | $1.97B | $1.63B | $981.4M | $1.10B | $737.5M | $784.0M | $280.7M | $264.2M | $22.4M |
| Tangible asset value | $3.25B | $2.55B | $2.19B | $1.67B | $1.37B | $1.13B | $624.4M | $469.6M | $372.1M | $314.9M |
| Net current asset value | $1.14B | $595.7M | $587.6M | $792.6M | $274.3M | $407.7M | $161.9M | $225.4M | $109.5M | $260.2M |
| Graham number | $57.74 | $43.00 | $35.06 | $24.64 | $17.00 | $32.85 | $7.61 | $5.01 | — | — |
| Graham net-net per share | $6.36 | $3.23 | $3.57 | $6.15 | $1.71 | $3.32 | $1.10 | $1.95 | $0.89 | $2.97 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $167.7M | $300.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | 22.4% | 53.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Capex / revenue | 1.2% | 1.6% | 1.5% | 1.1% | 2.1% | 1.0% | 1.9% | 5.5% | 4.3% | 27.4% |
| Capex / operating cash flow | 4.3% | 6.4% | 7.3% | 4.9% | 9.1% | 4.8% | 10.0% | 24.5% | — | — |
| Capex / depreciation | 1.13 | 1.41 | 1.33 | 1.06 | 2.15 | 1.27 | 1.99 | 6.20 | 2.89 | 2.83 |
| Stock-based compensation / revenue | 7.6% | 8.3% | 10.3% | 11.6% | 11.8% | 9.6% | 9.6% | 12.9% | 26.3% | 189.8% |
| R&D / revenue | 35.5% | 31.0% | 29.9% | 31.2% | 28.9% | 26.3% | 25.4% | 35.6% | 56.8% | 628.6% |
| SG&A / revenue | 40.4% | 42.8% | 45.1% | 50.6% | 51.5% | 41.4% | 44.9% | 55.2% | 105.1% | 453.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 74.4 | 71.2 | 76.3 | 65.6 | 55.2 | 49.5 | 42.3 | 35.3 | 70.3 | — |
| Days of inventory on hand | 442.8 | 513.7 | 337.4 | 516.0 | 746.6 | 818.3 | 694.3 | -756.4 | -4,530.0 | — |
| Days payables outstanding | 717.4 | 1,251.7 | 922.2 | 934.5 | 1,160.1 | 1,547.0 | 1,480.1 | 726.0 | 1,562.0 | 38.9 |
| Cash conversion cycle (days) | -200.2 | -666.9 | -508.4 | -352.8 | -358.3 | -679.2 | -743.5 | -1,447.1 | -6,021.8 | — |
| Receivables turnover | 4.91 | 5.13 | 4.78 | 5.56 | 6.62 | 7.37 | 8.62 | 10.33 | 5.19 | — |
| Payables turnover | 0.51 | 0.29 | 0.40 | 0.39 | 0.31 | 0.24 | 0.25 | 0.50 | 0.23 | 9.39 |
| Inventory turnover | 0.82 | 0.71 | 1.08 | 0.71 | 0.49 | 0.45 | 0.53 | — | — | — |
| Asset turnover | 0.69 | 0.68 | 0.67 | 0.67 | 0.60 | 0.69 | 0.69 | 0.50 | 0.27 | 0.04 |
| Average receivables | $583.0M | $459.2M | $394.6M | $267.8M | $171.3M | $141.8M | $91.4M | $43.7M | $31.1M | — |
| Average payables | $102.4M | $116.6M | $100.3M | $59.4M | $45.5M | $42.8M | $30.0M | $9.7M | $5.4M | $3.8M |
| Average inventory | $63.2M | $47.9M | $36.7M | $32.8M | $29.2M | $22.6M | $14.1M | −$10.1M | −$15.6M | $0 |
| Intangibles / total assets | 0.0% | 1.1% | 1.3% | 1.8% | 0.0% | 0.0% | 1.0% | 1.1% | 0.0% | 0.0% |
Computed from NBIX's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NBIX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Neurocrine Biosciences traded at 30.4 times earnings, against a 10-year median of 64.9. Based on the latest twelve months, the trailing P/E is 19.9 and the forward P/E is 14.1. Neurocrine Biosciences earned a return on equity of 16.4% and a return on invested capital of 20.2% in fiscal 2025. It ended the year with $415.3 million of debt and $1.5 billion in cash and short-term investments, a net cash position of $1.1 billion. It returned $167.7 million to shareholders: $0 in dividends and $167.7 million in share buybacks, 22% of free cash flow. The share count rose 18.2% from 86.7M to 102.5M over 9 years.
See the NBIX income statement, the NBIX chart for price history, or the NBIX stock overview for the latest quote and news.
NBIX key metrics FAQ
What is Neurocrine Biosciences's P/E ratio?
Neurocrine Biosciences's trailing P/E ratio is 19.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.1. At the end of fiscal 2025 it was 30.4, compared with a 10-year median of 64.9.
What is Neurocrine Biosciences's EV/EBITDA?
Neurocrine Biosciences's enterprise value was 20.2 times EBITDA at the end of fiscal 2025 (enterprise value $13.5 billion, EBITDA $666.6 million); the current EV/EBITDA is 15.7.
What is Neurocrine Biosciences's return on equity?
Neurocrine Biosciences's return on equity (ROE) was 16.4% in fiscal 2025: net income of $478.6 million on average shareholders' equity of $2.9 billion.
What is Neurocrine Biosciences's ROIC?
Neurocrine Biosciences's return on invested capital was 20.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Neurocrine Biosciences have?
Neurocrine Biosciences had total debt of $415.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.13 and more cash than debt.
Does Neurocrine Biosciences buy back its shares?
Yes. Neurocrine Biosciences spent $167.7 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.2% over the year, to 102.5M..
What is Neurocrine Biosciences's free cash flow yield?
Neurocrine Biosciences generated $748.7 million of free cash flow in fiscal 2025, a free cash flow yield of 5.2% on its market value at year-end ($14.5 billion).
What is Neurocrine Biosciences's current ratio?
Neurocrine Biosciences's current ratio was 3.39 at the end of fiscal 2025: current assets were 3.39 times current liabilities.